Ethereum

Boost

Future

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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-investors-boost-long-term-holdings" data-wpel-link="internal">Ethereum Investors Boost Long-Term Holdings</a><br></p>
<p style="text-align: justify">Ethereum (ETH) has witnessed significant price volatility in the last month, with its value surging by 30% due to ETF approval <a href="https://newslinker.co" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">news</a>, followed by an 8% drop over the past week. Currently, ETH is trading at $3,500, marking a 1% increase in the last 24 hours driven by news related to S-1 forms.</p> 
<h2 id="ethereum-comments">Ethereum Comments</h2> 
<p style="text-align: justify">During this period of fluctuating prices, the number of long-term Ethereum investors has grown. According to Julio Moreno from CryptoQuant, the second-largest buying day by long-term holders in Ethereum’s history was recorded recently.</p> 
<p style="text-align: justify">On June 12, large investors purchased approximately 298,000 Ethereum, worth around $1.34 billion, following a 2% price dip. This acquisition was just shy of the September 2023 spike when 317,000 Ethereum were bought as ETH’s price fell below $1,600.</p> 
<h2 id="the-future-of-ethereum">The Future of Ethereum</h2> 
<p style="text-align: justify">These substantial purchases reflect long-term confidence in Ethereum. Additionally, IntoTheBlock data indicated an increase in transactions over $100,000, with daily transactions rising from 4,000 to over 6,000 by the week’s end.</p> 
<p style="text-align: justify">Despite increased Ethereum accumulation, open <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">interest rates</a> have shown stagnation. In the last 24 hours, Ethereum’s open interest decreased by 2%, falling to $15.41 billion, while trading volume surged by 10% to $15 billion.</p> 
<h2 id="key-insights-for-investors">Key Insights for Investors</h2> 
<p style="text-align: justify"><b>Valuable Inferences:</b></p> 
<p style="text-align: justify"> – Strategic buying during price dips indicates investor confidence.<br> – Increased high-value transactions suggest strong market activity.<br> – Despite rising prices, a drop in open interest suggests cautious investor sentiment. </p> 
<p style="text-align: justify">Considering Ethereum’s failure to reach its all-time high during <a href="https://en.bitcoinhaber.net/anticipation-builds-for-secs-decision-on-spot-bitcoin-etfs" data-wpel-link="internal">Bitcoin</a>‘s peak or post-ETF news, some analysts believe investors anticipate a correction. Nevertheless, a potential supply shortage from strong purchases related to the expected launch of spot Ethereum ETFs could drive prices higher.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereum-investors-boost-long-term-holdings" data-wpel-link="internal">Ethereum Investors Boost Long-Term Holdings</a></h5>

Ethereum Investors Boost Long-Term Holdings

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